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. they are studying the evolution of specialization as they uncover details of ancient economies around the world. in the maya city of copan, a jeweler fashioned rare shell and jade for his powerful lord. in mexico, living artisans echo the economy of a vanished civilization. and in teotihuacan, evidence of mass production has now been unearthed. tiny faces of clay reflect the men and women who made them a thousand years ago. on the other side of the world, in the ancient roman city of ostia, huge merchant ships were part of an economy much like our own. and today, the tanners of morocco still practice their ancient craft, living proof that economies have evolved out of the past. everyone who has ever lived has been part of an economic system. iel bote grande...mil pesos! economic systems are simply the ways people produce, distribute and consume things -- everything and anything, from tortillas to stocks and bonds. for 10,000, 10,000 an eighth. today, as in the past, economic systems lie at the heart of how a society is organized. archaeologists search for these systems because they believe econ
. for sarching the auto industry of the the economy is doing well despite the best efforts of republican obstructionists who worked hard to shut down the government, folks with the national deficit dropping at its fastest rate in 60 years? it is time to stop the obsession with deficits and start an obsession about middle-class job creation. >> well, governor granholm, i'm going to give the president credit for these numbers -- >> stop the presses -- >> but this nation is still woefully unemployed. he has to take credit for that, too. i know his numbers could not have come at a better time for an administration that's had a rough couple months. in the crossfire tonight, a pair of economic experts, david madlin director of the american worker project for the center of political progress. >> and david, let me start with you. even though this morning's jobs numbers sound really good. a lot of people are just giving up and stopping looking for jobs. they're going on disability. the dependency on government has absolutely ballooned until this quote/unquote recovery. i think folks
and beyond. a step in the right direction for the u.s. economy, a new report reveals the job picture is rienthing and unmroement is falling. a severe wind and ice storm is moving east. hundreds of thousands are without power, and travel problems are building. ♪ >>> in south africa and around the world people are k looking at the legacy of nelson mandela. meanwhile funeral plans are ama and the first lady will be there to pay their respects. here are some of the details of what is to come. on tuesday decemb10th an official public memorial will be held in johannesberg. his body will lay in state for three days. the memorial's culminate with a state funeral. finally, mandela will be buried on sunday december 15th. >> reporter: tributes are being paid and prayers made for the icon. and now the world can officially say good-bye to nelsonela on december 10th which will be the official memorial service. and then for the following three days his remains will lay in state. but before then south africans will have a chance to remember the man who change lives forever. >> we have declared the
of people but he is also very hardheaded about things like the economy. when he got into office, they had been really sapped by sanctions for all these years and could have gone either way. look at zimbabwe next door. interesting because you mentioned the sanctions risk. there was a divide in this country about the sanctions. reagan was slow to act and there was a lot of pressure or members of the congressional black caucus and other circles as they have been noting tonight, lots of concerts in support of mr. mandela, lots of concerts in support of those who said that we should not have any dealings with south africa as long as apartheid was still in place. >> the people for sanctions were on the right side of history because it really did weaken the regime and probably brought them to the bargaining table much quicker. >> in your article, you noted south africa's economic and clinical aspects were intertwined. how so? how did he help to narrow that defined? had growth rates under 1% during the entire apartheid regime. from the time he was a like did until 2008 they were clipping along. t
.com/nbr. >>> growing stronger, the u.s. economy grows at its fastest pace since early 2012, but is the 3.6% rate as strong as it appears? and why do american businesses still seem so hesitant? >> protests over pay. fast food workers strike in the biggest push yet for higher wages. they want $15 an hour. they average around $9 now. what a big raise would mean for businesses and consumers. >> and the sticker shock, why washington lawmakers could be the reason you pay more, lots more for milk. we have all that and more tonight on "nightly business report" for thursday, december 5th. >>> good evening everyone. stocks kept sliding today, the losses though modest marked the fifth day in a row of declines for the dow and s&p 500, the longest streak since september and the government shutdown. the indexes are less than 2% from the all-time highs. today's declines were driven by rekindled concerns the federal reserve may reduce the $85 billion a month in bond purr chases and might do it as soon as this month because economic news out today pointed to a strengthening of u.s. growth. the come he domestic p
policy finally sorted out which is very positive for the world economy as well. there seems to be the argument -- they are talking that the normal , he ise of unemployment looking at that and going, we can fix that. we cannot better paid jobs, more jobs, we can change the dynamic through innovation and thinking about the problems that we face. how realistic is that? do with the unemployed men story on both sides of the atlantic? >> i am having lunch with larry today. i will carry on afterwards with him. if i could just revert to the ec1 investing enough. investing has been very poor. we are sitting on huge amounts of money. ins of people want to invest u.k. plc. the announcement earlier in the week, opening the doors to create higher-paying jobs. we are creating very poorly paid jobs. we have to create higher-paying jobs here in the u.k. and create real economic growth. the u.s. has a similar problem. wages haven't risen for over 20 years. we have been doing something's wrong. of investmentck in infrastructure and other areas. we have exported to much of our capital expendit
. more than anything else, they want a job. but finding work remains very difficult in an economy that still has one point 5 million fewer jobs than before the recession started six years ago. we have never had anything close to such a sustained job deficit after any recent downturn. it has been said in opposition to an extension that the federal emergency unemployment compensation program was adopted for extraordinary circumstances that are disappearing. no. no. these extraordinary circumstances continue, as indicated in the report issued just this morning by president obama's council of economic advisers. it highlights that the current long-term unemployment rate is at least twice as high as it was at the expiration of every previous extended ui benefit program. the extraordinary circumstances continue. the report also sets out the economic impact of a failure to act. it agrees with cbo and other economists. allowing the federal ui program to expire will cost our economy at least 200,000 jobs next year because of reduced consumer demand. for this congress to ignore the national
are in the middle because you what the economy to improve but not want to the fed to stop totally but yet you want to show it is getting better because sees earnings have to grow so the goldilocks scenario is the underlying growth would pick up and yet pick up later but then not have a crash when the rates go higher. dennis: you say the stocks go down with good news because we are scared of they will tie ended? but today they went up triple digits is there such an attitude to where i think the economy will go okay? >> fortunately a part of that is the investors are confident coming back to the stock market. it will go up even just people thinking it is up. >> what did you think of the report today? >> solid but not spectacular. to reduce thousand jobs is a good bumper but every other indicator was positive. most importantly we saw improvement of the for sandage other americans in the workforce. i was happy with this report but we should not be celebratory i remember in the '80s and '90s we had five budgets thousand jobs in one month but it there is no such styles as to get the jobs created. i woul
. considerable fiscal constraints. we're going to see environment -- it will allow for the underlying economy to look stronger. >> the bloomberg political analyst is with us -- sequestration in 2014 is different for him last year. >> they realize -- both sides realize they made a huge mistake. interesting point to me, we had a stock market high. we have housing rates out. we have more millionaires and billionaires. you have all of this data and then you have 75% of the country saying we are on the wrong track. >> will that look like going forward when you deal with the restructuring of fannie and freddie? will we see tightening standards and will that hurt the economy even more? >> i think that is one of the challenges. there are lasting scars. we will continue to see regulatory changes and adjustments. one of those is in the mortgage market. >> can i get a mortgage in 2014? doesn't change the radically that i cannot the mortgage? >> we could see some listening, but when we look back, it will look fundamentally different than what we had during the bubble. >> let's look at today's jobs report
confidence to our economy, to the business community and to our people if we got a beginning. deal, but unfortunately that does not seem to be, at least at this point in time, in the discussion. i'm hopeful that the budget committee so i'm hopeful that the budget committee conference will revisit or at least come up with a product that has not been discussed which will accomplish the objective of putting this country on a fiscally sustainible path for the long term, >> coming up, treasury secretary jack lew on implementation of the dodd-frank regulations. and president obama at the white house hanukkah reception. later, the democratic steering expiring hearing on unemployment benefits. span, washington journal looks at the mission and role of the national institutes of health. starting live at 7:30 eastern with director francis collins on the medical research priorities. future projects and the impact of sequestration. at 8:00, allergy and infectious diseases director anthony fauci followed by derek green director of the national human genome research institute gave at 9:00, harold
can do the trick. it came in the face of an employment report that was uplifting. the economy cranking out 203,000 jobs last month and the jobless rate dropping to to 7%, lower tn anyone could remember in five years. it might not be a fluke because consumers are feeling it, too. back to why this is all so weird. normally investors sell off on good news like this because it would signal the federal reserve starts helping them out and starts tapering the 85 billion bucks a month it's been flowing their way to keep interest rates low. a lot more on weather stocks stay high, but first, to mother nature, anything but hot. because fox is on top of a massive ice storm not letting up. icy cold temperatures ripping across a huge part of the country today. the wind chill in montana, minus 46. not much better throughout the midwest, and this arctic blast is expected to stick around for a while. no matter where you live you're likely to be hit and we're all over it with casey stiegel on the mess that is getting messier. scott in arkansas, where things are not much better. joe, on why we could all
casey thank you. ♪ >>> some encouraging news for jobs and the economy today, patricia sabga has the details of the much better than expected november employment reports. >> reporter: for the second straight month the u.s. job market showed signs of improve. the economy added 203,000 jobs in november lowering the unemployment rate to 7%. labor secretary says the numbers indicate the economic recovery is gaining strength. >> we have now had 45 consecutive months of private sector job growth to the tune of 8 million plus jobs. roorp while the numbers are encouraging, analysts say we still have a long way to go? >> to get to full employment we estimate the economy is going to have to create between 200 and 225,000 jobs per month for the next couple of years. >> reporter: but that may be difficult to achieve. the recovery is still on shaky ground with small businesses sees a slowdown in sales for the year. that is significant, because those businesses create about two-thirds of new jobs. ly hard hit has been the retail sector. despite slashing prices and opening their doors thanksgiv
they could be influenced. the official forecast is for 185,000 new jobs created by the economy, 180,000 of them private, but the whisper number on the street is stronger -- over 200,000. the number, we had a big surprise -- remember, we had a big surprise last month and everyone expected a disaster. the adp payrolls number came in over 200,000, and that surprised people. factor in revisions, and we could see 50,000 or 60,000 additional jobs added. bettingld have people on the fed starting to buy what buys in bonds.-- cars. rates on homes and the fed surprises by not tapering after the weak job report in september. talked back oner the table. >> doesn't the fed have a target for the unemployment rate? >> yes, and no. ring does notape -- tightening. then implement number does not mean as much because it was distorted by the government shutdown. it will come down, but it will not be a factor for the fed air it said officials have told me -- that. -- said. fed officials have told me it will not be dependent. fourth-quarter gdp is tracking much lower, around 1%. they want evidence we wil
low wages-- the economy is growing... the gdp number out yesterday came in at 3.6%. that is strongest economic growth in 1 and half years. the number was revised up from an earlier estimate of 2.8%. what's troubling to wealth manager juli niemann is that consumer spending grew just 1.4% "the economy is not really rocketing upward, it's slogging upward. so it's just not as wildly good news as it looks like it would be on first blush here." the real driver of the economic growth is coming from the businesses building up inventories. some fear that however, could be a negative factor going into the final quarter of the year. tech and start ups as the area adding strength. "i look at now where the dow jones is, but where nasdaq is. if nasdaq is at 4,000, we've got a pretty strong economy, at least in the tech sector. if goes to 2500, then we're in real trouble." that was howard anderson-- senior lecturer at the mit sloan school of managmement the gdp report also points to a smaller drop in government spending... that suggests the across the board budget cuts are having less of an effect-
it was all about. south africa had the economy, has the economy that is the greatest economic engine on the african continent and nelson n mandela did not dismantle that economy, he did not force the kind of redistribution of wealth at a pace in which his supporters wanted it to happen, he said now it's time for us to build, not to function as a revolution anymore. >> thanks, john harwood. we appreciate it. now, we are joined on the phone by robert johnson, who is a cnbc contributor, founder of the rlj and former chairman of b.e.t., old friend of mine. robert, you met nelson mandela many times, okay. how many times did you meet him, what are your thoughts tonight as he passes away? >> yeah, i had the great and humbling pleasure of meeting president mandela on a number of occasions, first with the former commerce secretary, late ron brown, and then i also accompanied president clinton on his historic trip to sub-saharan africa and of course when president mandela came to the united states seeking to raise funds to continue to fight apartheid and support his charities. the one thing,
:30 eastern time. a dow jones survey finds that the economy probably added 180,000 jobs last month. the unemployment rate is seen slipping 7.2%. we'll talk more about market expectations in just a few minutes, but we begin this morning with our top story. nelson mandela spent 27 years in prison, led his country to democracy and became its first black president. he died at home yesterday at the age of 95. chris takes a look at mandela's life and legacy. >> history books will remember nelson mandela as one of the world' most prominent crusaders for black rights, the son of an african tribal chief, nelson mandela gave up a comfortable life and his hereditary lights to be a tribal leader to become a political activist in the fight against apartheid. the system of white rule over the majority black population. >> to feel that it is for us to continue talking nonviolence and peace. >> he was jailed for organizing demonstrations as well as treason and sabotage. he spent 27 years behind bars, but his jailing fueled the fires of freedom. his plight became an international symbol of oppressi
to the new economy, even in a period of economic growth, has not delivered the kind of employment that's necessary to sustain the economy. so i ask if any of you might comment on how the loss of direct support for 1.3 million americans in the wealthiest country ever imagined on the planet at a time of record profits by corporations can somehow be acceptable when you have cities like flint, michigan, or saginaw, michigan, that continue to struggle to try to connect their work force with the next economy. to me, this just seems like an affront to all that is good and right, and it's not something we ought to stand for. finally, i just want to say thank you for helping members of congress who ought to understand that this is just not economic data that we're looking at, but this is a decision that'll literally affect the lives, health, and well being of millions of americans and the fact you're willing to come help make that case is something we're grateful for. thank you. >> thank you, chris. why don't you begin and we'll get to the other direct questions. >> thank you so very quickly, c
nightmare of a cruise ship. good morning, everybody. stocks finally good news on the economy means good news for stocks. nicole is on the floor of the new york stock exchange to explain it all. nicole: we are seeing something have not seen in some time, some big gains, green arrows. triple digit gains in the dow jones industrial. we have not had an up day where at the closing bell we had i anp arrow for the dow. since before thanksgiving, since last wednesday. it is welcome especially for the bulls, but for right now it looks like we will be snapping our winning streak we have seen. up 8 of the last straight weeks, but last friday the dow closed 16,086, so some way to go with that. some all-time highs worth noting. you are hot on these names. 1064. back to you. dagen: i'm smiling because two of my favorite people on the planet are here. two of my favorite people. here to talk about this, the newest news on employers. 243,000 jobs in november beat estimate by more than 20,000 people. a five year low of ninth round. labor participation rate, the number of people in the workforce looking for wo
think it will be a little problem for the economy, unless they can prove that the economy has strengthened enough to handle it. i don't think it's there yet. >> we've had one small preview of this move and it was called this summer. we saw the ten-year move back up to 3%. we know it took some momentum out of the housing market. if i'm the fed and looking at what's happening with housing, with autos, is the evidence strong enough that that did enough damage that the same will happen again? >> i think they're worried about that. i think they're absolutely worried about that, which is why they're not -- why they're not going to taper. especially why not they're going to taper into the end of the year. right? there are two many other issues in front of them. as abigail said, the changing of the fed, debt ceiling in front of us. today there's that rumor we'll come to this budget agreement before washington goes on vacation in two weeks. if that happens, that just opens the way further, i think, for a little morally. >> you sound like you're taking some profits here, abigail. are yo
blitzer in washington. big news for the u.s. economy today. hiring is up. unemployment is down. the jobs numbers for november were released this morning and they're much stronger than many analysts had been expecting. take a look. the economy added 203,000 jobs last month. that's 20,000 more than many of those economists had predicted. another surprise, the unemployment rate fell to 7% from the 7.3% a month earlier. that happens to be a five-year local and a real sign the economic recovery may be gaining some momentum. our christine romans is in new york watching all of these numbers for us. how significant are they, christine? >> it's significant, wolf. now you've got a trend in place for the year, you've got more than 2 million jobs on track to be created the best since 2005. it has been pretty in israble since the recession and the bubble burst and to say you're going to have jobs growth, on track for jobs growth, the best since 2005 is significant. you want it see these numbers, 200,000 a month and more and want to see it continue. the unemployment rate going down to 7%, wolf, the wh
to develop the digital economy within the context of the eu twenty twenty strategy to build a sustainable knowledge based economy in europe. any piece of home being champions of the digital economy for the benefits it brings to the citizens they represent a vis the us there is a kurdish member of our. it's very significant to the proposal of course today for my plea to god through ppp. specially i think we're close ups the ngos say and this development proposal on from the european and a commission specially not of course looks performance and publishers but it comes. of course you'll always be able to watch the ppt these digital content online wedding off. the city on a few days in a sixty eight to compete at any given. and this and often on the tv and be scammed by this time it's the vandalism of the cba china's white skin is running a mindset to get to speak. the white city of hope that those who have lost their sight. pity she didn't get the three hundred bc to compete against sun that he can apply for jobs in the private sector. it's a nice because it's gets to the paper gets to watc
and for monday. 203,000 jobs being added to the economy. exciting to see. great news. >> 7% unemployment. >> yes, americans back to work. forcee labor participation went up meaning more people are being counted. that's been a big concern, that just falling off. >> all reason to cheer. and market likes it. >> market loves it. they mightd think get nervous because it might mean tapered sooner rather than december.n as soon as >> right. >> nonetheless, higher. >> good news is good news. let's go to the big picture. will show you the three charts you've got to see. the dow industrial up 183 points. up 1.2%. we were up about 193 points a few minutes ago. slightly off the highs but still vague very good day. thewe're making up for ground we lost in the preceding five days. will this is curious. spike up early this morning up to 2.93 and back were.re we you're wondering whether the taper is priced in. >> could be. >> yup. at about -- >> good is good. >> means good is good. i like it. story., by the way, same it's call it flat. it's only up 29 cents. oil is up 6% in one week. begin to think maybe this t
the economy. they should have tried to fix the economy. instead they focused time on a broken program by pulling in conservative concepts into a health care plan. >> that's -- >> oh. >> that's the reality. the main fundamental promises. keeping your plan, your doctor, saving $2500 per family per year, not true. you may trust him but you are one of five people in the country that believe him. >> you know me. >> i totally agree. there was over simplification. >> why are you having a hard time admitting it's not true? >> just the individual market there are ebbs and flows. that's natural. not everyone can keep their plan. >> they knew, read the november 2 edition of the wall street journal. they were debating in jewel of 2010 whether to tell the truth. they decided against it. here you are. he could have said it better. could have done this. they knew from the beginning. it was over simplification. absolutely true. >> they crafted the talking points to be that way. don't lie, emily. >> emily? >> i'm not going to agree. >> that's the truth. they knew it was going to happen. they didn't wa
blanket over our economy. >> premiums are going up, jobs are being lost. >> we're losing jobs because of obama care. we're losing a lot of jobs because of obama care. >> whoops. turns out they're wrong. really, really wrong. today we learned the economy added 203,000 jobs in november. that means 403,000 jobs since the health care exchanges opened in october. the unemployment rate is now down to 7%. that's the lowest in five years. when the bush recession was ravaging the economy, that's why today's news is so important. five years ago, this country was on the brink of financial ruin. between december 2007 and december 2008, economic growth dropped by $143 million. key stocks fell 33%. and the private sector shed 3.7 million jobs. at the end of the bush years, the private sector was losing jobs month after month. lending and leading to fears of depression. but there wasn't a depression. in fact, president obama's stimulus helped jump start a recovery. we've now had 45 straight months of private sector growth. a remarkable turnaround. republicans were wrong about deregulation about pres
to the latest news of the day. jobs and the economy, we have the details. patricia, good to see you. this is a much better than expected jobs report. >> it was tin deed much better. but the numbers were encouraging, and there was reason to be cautious. >> reporter: the economy shows signs of improvement. lowering the unemployment rate to 7%. there was a healthy bump in higher paying manufacturing and construction. the numbers indicate the economic recover is gaining strength. >> we've had 45 consecutive months. >> while encouraging, there is still a long way to go. >> the economy will have to create between 200,000 to 225,000 jobs per month for the next couple of years. >> reporter: that may be difficult to achieve. the recovery is still on shaky ground with small businesses seeing a slow down for the year. that's significant because those businesses create two-thirds of new jobs. particularly hard hit has been the retail sector. despite slashing prices and opening their doors thanksgiving day retailers posted disappointing sales in november. >> you have a vicious circle if úpeople
economy. >>> in the philippines the recovery effort is still plainfully slow almost a month after typhoon haiyan hit. but there is a movement to get the local economy moving again. >> reporter: there's very, very little left on the store like at tacloban, this man knows that too well. he is a fisherman, or rather he was, given that his boat now sits a couple of kilometers inland. >> translator: before i was earning about 300 pesos a day from the catch. but now i don't earn anything because what i catch is what we eat because i don't have boat. >> reporter: his story is replicated thousands of times across tacloban. so the challenge after the emergency aid phase is to get people working and let the local economy take over again. every street in tacloban is an absolute mess and they need cleaning up, which means you have ready made jobs, which is why you have up to 20,000 people lining up to take part. >> even if they are cleaning their house, we give -- we pay them. our point is that if every one of them are cleaning up tacloban, we can revive it, and then they are able to buy things. if y
of what is expected to be a weaker payroll number in the u.s. economy. >>> germany's central bank raises its 2014 growth target for europe's largest economy as evidence shows demand from within the eurozone is finally picking up. >>> deutsche bank is to close its commodity business mainly in london and new york. display you're watching "worldwide exchange," bringing you business news from around the globe. >> a former south african president nelson mandela passed away last night at the age of 95. world leaders have been sending message messages of mourning for the leader. >> he is now resting. he is now at peace. our nation has lost its greatest son our people have lost a father. >> for now, let us pause and give thanks to the fact that nelson mandela lived, a man who took history in his hands and bent the arc of the moral universe towards justice. >> nelson mandela was not just a hero of our time, but a hero of all time. the first president of a free south africa, a man who suffered so much for freedom and justice, and a man who through his dignity and through his triumph inspired milli
remember this is an asymmetric economy and we have keep our eyes on the bottom half. >> it suggests the economy is doing better, even in the face of headwinds and moves us closer to the fed's threshold number. we may get there quicker than we expect. >> thank you for joining us. it's time for "squawk on the street." >> 203,000 jobs added in november. a jobs report headed in the right direction. i'm carl quintanilla with jim cramer. david faber is off. the 10-year yield within about 10 basis points or so of that 3% at least earlier this morning and europe is worth watching as well. looking at the jobs number, as we said, 203,000 non-farm jobs added last month, forecasts calling for about a gain of 180,000. the unemployment rate down 0.3% to 7%, the lowest level in exactly five years. the question is whether or not the fed will scale back its bond purchasing program when the central bank meets later this month. jim, whether it was u-6, the workers, the wages, there's not a lot to quibble with in this one. >> i was most concerned about an even bigger number. this is kind of good. it wa
the jobs front about a divide in the u.s. economy: the labor market seems to be getting stronger once again. yet for many on the lower end of the income ladder, the big gap in wages is sparking a budding movement. we begin with economics correspondent paul solman on the unemployment rate's drop to a five-year low, even as many jobless americans face more difficult times ahead. the story is part of paul's coverage on making sense of financial news. >> reporter: the latest snapshot of the nation's jobs situation-- showing 203,000 positions added in november, and a jobless rate of 7% was even rosier than anticipated. we asked northeastern university economist barry bluestone what he made of the numbers. >> on balance this was a good report today. over 200,000 people are back to work. we've brought the unemployment rate down from 7.3% to 7%. that's all good news. of course many of those were federal employees coming back to work after furlough, but we had some good news about manufacturing employment, construction employment, pretty much across the board. so in general this is good news plus o
bell rang just seconds ago on wall street as a new jobs report exceeded expectations, has the economy finally, finally taken off? >>> and the world lead. former president jimmy carter joins us to eulogize nelson mandela, the south african freedom fighter has been canonized for his accomplishments. did you realize the u.s. had him on a terrorist watch list until 2008? >>> good afternoon. welcome to "the lead." we begin with the national lead. it's like most of the country is living inside a flu medicine commercial right now. brutally cold weather has descended upon most of the nation, bringing a deadly ice storm sweeping from texas to new york. nearly 2,000 flights have been canceled, many of them going to or from the dallas-ft. worth airport. it's colder in dallas right now than it is in anchorage, alaska. authorities fear that no amount of shoveling or salting will make the streets safe enough for the dallas marathon or holiday parades so officials decided to cancel both of those events this weekend. at least four deaths are blamed on this massive storm. two of them in oklahoma, wher
and keep him in peace. >> the labor department released the november jobs numbers showing the economy added 200- 3000 jobs last month and dropping the unemployment rate year 7.3% to 70%, a five- low. the economy has generated just over 200,000 jobs from august to november, up from 159,000 per month between april and electorate -- and electorate reaction coming from capitol hill. house speaker john beat -- house speaker john boehner release a statement -- today's report includes positive sign that mored discourage calls for emergency government stimulus third and said, what our economy needs is more progrowth solutions that get government out of the way. we will bring you live remarks from kentucky senator rand paul speaking at the detroit economic club at 12:35 eastern right here on c-span feared also life during the 12:00 our on c-span2, discussion on hospital admission policies for medicare patients and how that impacts out-of- pocket expenses at 12:15 eastern. also at 12:15 on c-span3, for presidentialan candidate john huntsman and evan bayh will speak about politics. they are cochairs o
? >> very much like peter said, many want more evidence the economy is indeed strong enough that they feel comfortable to pull back a bit because the last thing they want to do is pull back and have to reverse course. they stop asset purchases twice before only to come back in again. they don't want that to happen. december is a tough time to start tapering. a lot of people are on vacation, the market is very thin. the last thing they would want to do is potentially make a move leading to an exaggerated reaction in the bond market because again you have this. it will be a 2014 story. cheryladam: why not the january meeting? is that too soon? speak a lot of people have turned their forecast focus to . you don't have it press conference afterwards. you can always announce the decision to start doing press conferences after every meeting and that would put january into play. between the leadership transition, the fact they will not be doing new forecasts. we are looking for a very weak fourth-quarter gdp number. could only be half to 1%. adam: let me play devil's advocate. gdp in the last qua
? >> describe the state of how you see the south african economy and the relationship between the united states and this current south african government. >> it's a dynamic moment in the relationship, chuck. you know that the fastest growing economies on the globe are in africa. south africa is the economy that has been stagnant over the course of the last few years following the recession that all of us are struggling to recover from. i will tell you that over 600 american countries on the ground here in south africa are bullish and optimistic about the future here spent a lot of time talking to both investors and young people who were entering the job market here and they are optimistic about the opportunities, but they know there real challenges particularly around education to make certain there is a sustainable economy and the shared prosperity this this country. >> one of the things i want to do with you, you were talking with andrea off camera and i am glad you brought up the cold war point. history and a reminder of what that -- how frankly we were behind the times as a government when
job and millions of others could be on the line. there is a structural change going on in our economy as we speak. joining me now to break it down, former chief economic adviser to president george w. bush and a hoover senior fellow. welcome to the show. you know, every time i see something new, you know, amazon drones delivering a package, i see automated checkout at the cbs on the corner. i think that jobs have disappeared and are going to continue to disappear, and they are not coming back. am i wrong? >> you are not wrong. that is a correct observation, but it is n observation that is not unique to this particular time frame. you mentioned structural change, and there has been a structural change, and structural change has been occurring for a long time. if you go back to the 1950's, we have about 35 percent of our workforce is unionized, and manufacturing for the most part. and then if you look at the numbers, say in 2007 the number that just precedes a recession, we had about the same number of people, 14 million in manufacturing in the 50's, 14 million in manufacturing in 2007
recession. but what kind of jobs is the economy creating? an ice storm causes havoc in the middle of the country. manuel bojorquez is there. and allen pizzey on the years that made the man. >> for 18 of the 27 years he spent in prison, nelson mandela walked down this corridor everyday and at the end of that walk there was no freedom, there was this. >> reporter: with bob simon on the moment he was free. >> after 27 years, his head was high and his fist was clenched. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. the south african government announced today that the state funeral for former president nelson mandela will be a week from sunday-- the culmination of days of memorial services. president obama will lead the u.s. delegation and he's invited the former american presidents to join him. mourners continued to gather today at mandela's home in johannrg died last night and at his former home in soweto. and for us, no one image captured his legacy better than this-- blacks and whites side by side honoring the father of a mu
is still struggling to turn its economy around, but a the head of the investment agency in greece says the government is reforming the business envirnment to attract overseas capital. >> greek government mandated by the greek people embark on a major overhaul of all sectors of the economy, so a structural reform, a huge structural reform has been undertaken at the same time. >> greece's economy is expected to contract this year for the sixth consecutive year. the government forecasts though the gdp will grow in 2014 as global demand gradually picks up but austerity measures keep pressure in people's lives. the jobless rate remains the highest in the eurozone. >> the unemployment is soaring and this is a very important problem, especially among youth, when it is a time that the people need to hone their skills. unfortunately, they are left without a job, so no one can overlook this, but that's exactly what we're trying to accomplish, and that's why we have placed the attraction of fdi right at the center of our efforts. >> oesias says the greek government is making it easier for foreign
. >>> more good news about the economy coming right in time for christmas. we'll tell you all about it in business and tech. >>> plus, bat kid. the sequel. we'll tell you why the caped crusader is coming back to the city by the bay. >>> the classic baby bouncer just got a high-tech makeover. but it's not sitting well with everyone. fisher-price added an ipad holder so kids can play with the gadget while they bounce around. the company calls it the app-tivity seat. but many are slamming it. that's because the american board of pediatrics recommends no screen time for kids under 2. >>> the dow is higher after new data showed the economy is growing, scott mcgrew, much faster than anyone thought. >> good morning. the american economy added 203,000 jobs in the month of november. much bigger than the 180,000 that economists were predicting. this pushes the unemployment rate down to 7%. this is particularly good news in retail. it's good news for construction. and it's really good news for women. as we have seen for quite some time now, women are getting jobs much more quickly than men and
given potential. it is because we know that when women and girl participate in economies, economic growth is greater than would be without them. where women and girls are given the chance to be educated and to get the healthcare they deserve to have, we know that societies benefit. where women and girls can participate in peace making and peace building as full members of society trying to resolve conflicts, we know that resolution is more likely to be sustained. it's a great honor for me to have this award. but it is a reminder of how much more we have yet ahead of us to accomplish. to make sure that tom's dream, tom's life, the examples of the award recipients with us and those unable to come, bring out in each of us our own commitments to what we will do to further the cause of human rights, universal human rights for every man, woman, boy and girl in the world. it is certainly what tom would expect us to do to hold high his ideals and by accepting this award and knowing that tom would not let me off the hook, otherwise, it is something that i will continue to be committed to i
employment rate hit a five-year low of 7%, an encouraging sign for the u.s. economy. the job creation news sent stocks soaring today, a rare sign. the dow added 199. the s&p 500 gained 20. the nasdaq finished ahead 29. for the week, the dow lost 0.4 of a percentage of a point. to break down the jobs report for us is melissa francis in new york. she's the most of "money with melissa francis" on the fox business network. the jobs number better than expected. still not robust, but pretty good? >> absolutely. it was better than expected. most economists were looking for less than 200,000 jobs, 203,000 is what came through. 7% unemployment. that is the 60th straight month we have seen employment over 7%. if you look at the average amount of money earned per hour, the number of hours worked per week, those ticked up slightly. and the participation rate is so important. last month it was at a 35-year low. it has ticked up, but just slightly. 63% of people out there consider themselves part of the workforce, either working or even looking for a job. that means that the rest of the population has g
at building a strong and growing economy which will benefit all our people. i would like to deal with a few matters in this regard. in support of sustainable economic growth and the macro- economic objectives of government, it will remain the primary objective of monetary policy to promote and maintain overall financial stability. the reserve bank has the important function of protecting the value of our currency and striving for relative price stability at all times. we are pleased that dr chris stals will continue to serve as governor of the reserve bank. [applause] the battle to reduce the rate of inflation will continue. the realisation of many of our objectives for a fair and equal treatment of all our people will not be possible unless we succeed in avoiding high inflation in the economy. we also face a major challenge in re-entering the global economy, while stable prices are vital to the restructuring of our industries and dealing with the critical issue of job- creation. we are blessed with a heritage of a sophisticated financial sector. our financial markets are well- placed to pl
economy is improving. we have doubled our production of clean energy. doubled our traditional energy sources. we are on the brink of being as close to energy independent as any country our size could be in a very long time. a we still have the best universities and companies on earth. we're the envy of the world. so i continue to have great confidence in our capacity to solve our problems. there is a specific challenge that we've got. that is a congress and this city, washington, that is gridlocked and spends too much time worrying about the next election and not the generation. the solution to that is ultimately what was envisioned by our founders. and what jack kennedy understood as well. and that's the american people. question go through these periods where aur politics gets all bollucks up. the truth is when you look at our history, there's been a lot of times where congress gets stuck. but the reason we get through it is the american people have good instincts. if over and over again they see we're not addressing the core problems we have, eventually they will put in place folk
. the economy generated 203,000 new jobs in november, and the unemployment rate fell to its lowest level if five years. the expectation was to see a build of about 180,000 jobs, so this, obviously, was much better than expected. look aa the market rally we have on our hands. investors apparently shrugging off concerns that the strong jobs number might hasten the fed's tapering of its bond-buying purchases. in the past that's concerned the markets, but look at the dow jones industrials. yes, it is up about 185 points, but earlier it gained some 200 points, the session highs. the first 200-point gain in about seven weeks. a similar story with the s&p 500. the s&p enjoying its biggest gain in four weeks. right now it's seeing a jump, pretty significant here of 19 points. just a minute ago it was up to, so it's -- up 20, so it's hovering at really strong levels here. general motors cruising to new highs it hasn't seen in more than five years. why? well, the new word is out that the automaker could ship an increased number of vehicles made in south korea, where are they shipping? to australia. so the
, is the economy stronger than free money from the fed? and number three, can interest rates and stocks both rise together? jim and jeff are in chicago. okay. guys nice to see you first of all. >> hey, sue. >> is good news finally really good news? jim you first. >> yes, it is. unfortunately yesterday, i hadn't arrived at this conclusion but i've been convinced today it piz. good news is good news because the market realizes that we're washing liquidity probably at a point where more than we should be based on the economic condition but the fed is hamstrung and going to be difficult for them to walk back. the fed knows since the fed's hands are tied let's celebrate while we can. good news, as long as it doesn't get too hot, i hate to say goldie lock's people said before me, not too hot. >> all right. moderation in all things. what do you think, jeff? >> sue, certainly adding jobs to the u.s. economy is good news, but i'm going to disagree slightly to my friend mr. your rio here. we saw that underscored on the nonfarm payrolls, we saw it go to 293 and the pits all of a sudden started selling and t
. not much of these. i actually found its way through the economy soul. if we are to duel in alterations similar to the ot i roll. we want to make sure that this is being used for the economy. some regulations went into juice funds to banks but i can't actually see the problem lending it out. now the ecb is holding back on intervening. it's cute explanation for that was obscured. we have not identify. and mostly the various and numerous easter is sweet that one specific instrument in the discussion we had today the weekend that we had a brief discussion about native deposit rates by the close of grief. the economic recovery has slimmed down on the razor and ecb kept its key interest rate unchanged on testing. it also expecting me a very slight rise in inflation between now and twenty fifteen. a quick look at the movement of the markets today signing in frankfurt the dax was down by about six tenths of a percent to nineteen eighty four that killed some fifty down by a bit more one point two nine over new york the dow jones industrial average is still trading at down the river percent of t
of the economy's out there. greece could put this to germany for once. these are what you want to see. >> you are partially english, partially italian. not a good or bad thing. there is a group of death, a group of joy. you can have holland, you can have brazil. it needs ant, it extra country. this is actually fascinating. for a lot of football fans, this is a big deal. >> we were talking earlier this week, they are at 10%. >> the first contraction since 2009. this was meant to be brazil's rival on the international stage. they come out and they have had a contraction. you look at the shiny brand-new stadiums. three and a half billion dollars. it is almost three times what was spent in south africa. there has been an out rising in this country. much was being spent on this event. on awill be so much sporting event. they are heading terms of the sporting event and the economy as well. >> thanks, john. >> now for a preview of what is coming up in the program. you are looking at ireland's exit from its bailout program. countryis the poster for austerity doing the right thing. michael lewis will
the spotlight on an emerging economy. i guess investors such a yourself, i know you cover emerging markets. what is your take on brazil overall or emerging markets? >> i think emerging markets in general are facing some head winds. really a reverse oovel what we have seen in the last many years or diamondback aid or so. in particular, the previous decade we were seeing falling global interest rates. we have a theme in commodity prices which which is in some way reversing over the medium term. thirdly, you had a significant boost to many emerging economists as a result of the labor markets which is becoming less parent as we move forward. when you add to the fact that some emerging markets have also built up external -- making their currencies vulnerable and leaving them also vulnerable to inflation and pressures and rising rates. the cocktail i think results in more concerns about merging economies and their markets relative to what we're seeing in the developed economies where a more sustained economic recovery and profit recovery, i think, is coming flument >> peter thank you so much for that
is getting better. our economy is improving. we have doubled our production of clean energy. doubled our production of traditional energy sources. we are on the brink of being as close to energy independent as any country our size could be in a very long time. we still have the best universities on earth, the best researchers and scientists on earth, the best workers on earth and the most innovative companies on earth and we're still the envy of the world and the most indispensable nation. so i continue to have confidence in our ability to solve our problems. there is a specific problem that we've got, and that is a congress, and this city, washington, that is gridlocked and spends too much time worrying about the next election and not enough time worrying about the next generation. and, you know, the solution to that is ultimately what was envisioned by our founders and what jack kennedy understood as well, and that's the american people. you know. we go through these periods where our politics gets all mixed up. and the truth is we're nostalgic about the past. >> i am. >> i know you ar
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